The International Trade Union Confederation (ITUC) is calling for an investment of 5% of pension fund portfolios in green investments by 2015, split across three asset classes to respect pension fund diversification rules.

Sharan Burrow, ITUC General Secretary, said the low level of portfolio holdings in longer-term green economy investments is a critical concern to workers.

“We need 50% more food, 45% more energy and 30% more water by 2050. There is a both an imperative and an opportunity to invest in the green economy to create sustainable decent jobs.

“Not enough money is being invested in emission reduction and adaptation policies. While governments and other financial institutions should take the lead – the pension fund industry can play a key role,” said Sharan Burrow.